Balliol is a college of the University of Oxford, founded in 1263.
Its alumni include three British prime ministers: Herbert Asquith; Harold Macmillan; and Edward Heath.
Kings is a college of the University of Cambridge, founded in 1441. Its alumni include Rupert Brooke, E.M Forster and Salman Rushdie
To 'endow a fellowship' is to provide the financial wherewithal for a graduate student to pursue post-graduate studies and obtain a doctorate.